Published on 7/25/2019 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $1.58 million contingent income autocallables linked to S&P, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., July 25 – Barclays Bank plc priced $1.58 million of contingent income autocallable securities due July 28, 2021 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7.5% per year if each index closes at or above its downside threshold level, 75% of its initial level, on the determination date for that quarter.
Beginning Jan. 23, 2020, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless either index finishes below its downside threshold level, in which case investors will be exposed to the decline of the lesser-performing index from its initial level.
Barclays is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Barclays Bank plc
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | S&P 500 and Euro Stoxx 50
|
| Amount: | $1,575,000
|
| Maturity: | July 28, 2021
|
| Coupon: | 7.5% per year, payable quarterly if each index closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below downside threshold level, in which case exposure to decline of lesser-performing index
|
| Call: | Beginning Jan. 23, 2020, automatically at par if each index closes at or above initial level on any quarterly determination date
|
| Initial levels: | 3,005.47 for S&P 500 and 3,532.87 for Euro Stoxx 50
|
| Downside thresholds: | 2,254.103 for S&P 500 and 2,649.653 for Euro Stoxx 50, or 75% of initial levels
|
| Pricing date: | July 23
|
| Settlement date: | July 26
|
| Agent: | Barclays
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1.75%
|
| Cusip: | 06747N7G3
|
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